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that debt ceiling fight, the biggest one of the year. the house plans on passing a bill that would soon allow the treasury department to prioritize debt payments white house minutes before interview the president would veto saying it is up to congress to pass a clean increase in the debt ceiling. we asked the speaker about that white house veto threat. >> you know the president can say this but y know, he is the person who, when he was united states senator voted against increasing the debt limit. this is always become a political football. the federal government has spent more than what it brought in for 55 of the la 60 years. this year we'll have the highest amount of revenue to our government we've ever had in our history and yet still have a trillion dollar budget deficit. we have a long-term spending problem that has to be resolved. and it will be resolved. and so, i don't know what it will take. republicans put our budget out, passed it back in march. democrats passed a budget in the senate. our budget balances over the next ten years. the democrats budget and the president's bdge
: if the gentleman will yield? mr. griffin: i will not yield. madam speaker, nobody wants to hit the debt ceiling. in fact, nobody wants to get anywhere near it. on the contrary, we are the ones that are trying to get washington's spending under control so it will live within its means. that's why we talk about budgets and spending and living within our means, because house republicans fight that fight. if we weren't doing it, we wouldn't even know there were limits to our spending. the house budget does just that. balancing the federal budget in 10 years. we understand we must take precautions to protect the credit worthiness of the united states. we can hope for the best, but we must prepare for the worst and the worst that can happen is a government default. the bill before us today takes default off the table, period, no more, no less. we've been told by the credit rating agencies that the greatest factor affecting our national credit rating is the government's ability to pay its debtholders. this bill -- excuse me -- this bill will make sure it will. this bill requires, not allows, requires
of the debt ceiling and now looks like it will be in the fall at the summer, that's good news. everything -- economy is picking up, tax receipts, that all -- the fact that it has been pushed off is good news. but the issue of whether the debt ceiling becomes a trigger to force negotiations was a question i had for rob portman during the fiscal summit earlier this week. here is what he said. debt ceiling, september, october, is it going to be a crisis when it comes up? and if so, do you actually need it -- is it going to be needed as the trigger to force the talks? >> yes. it is going to be a crisis and it is needed? >> yes. every single one of the half dozen proposals that worked to reduce spending in congress in the last three decades has come out of this same process. >> steny hoyer. you've been in this town as long as rob portman, perhaps longer. you agree with his analysis that the debt ceiling fair or not has been the trigger to force these big deals when they happened? >> i agree with him that i think historically there has been surrounding the debt ceiling from time to time other i
that to some degree, the ball is in their court. >> debt ceiling looks like september, october. is it going to be a crisis when it comes up and if so, is it going to be needed at the trigger to force the talks? >> yes. >> so, it is going to be a crisis and it's needed. >> yes. >> every single one of the half dozen proposals that have bor d , -- because the american people do not like to extend the debt limit. >> big take away are this. republicans would prefer to negotiate with the president. debt ceilings are going to be the trigger. that was rob portman making the debt ceiling threat, not somebody more idea logical. there's no incentive for republicans to make a deal with a weaker hand. it may be the last window the white house has. republicans of the house are going to run into a pr problem if they don't even pretend they want to negotiate with snalt democrats. they have refused to name their -- to the conference committee to begin their process of hammering out a real deal. yesterday, congressman ryan had an odd explanation as to why they're not doing that. >> when does the clock start
. revenues are up. spending is down the debt ceiling probably won't come into plea until okay. i call that an economic and political game changer. it could be bullish for stocks, by the way. we'll explain why free market capitalism is the best bet to prosperity, speaking of which the oil and gas boom, another game changer. and the opposite of all that, government plan green energy. think of slwe cylindra. i'm kudlow. we'll be right back. but no way we're going to let them die. ♪ . effective deadline until at least labor day. the statutory debt limit will be reached in just a few days when it expires on may 18th. but because of the extraordinary measures that are available and the cash flow that we now can predict, it will be not until at least after labor day. >> all right. call it the deficit game changer, thanks, in part, to odama's tax hikes, which i think are going to slow the economy. i don't like that one bit. fortunately the gop's sequester cut also has held this down. the federal deficit is falling faster than anybody expected. meaning as secretary jack lew said, the debt li
meeting to decide what their negotiations are on the debt ceiling. number two, hammering out of an immigration reform bill. it was a 7 1/2 hour markup as the senate judiciary committee debated 32 proposed changes to the gang of eight's bill, rejecting seven and accepting eight proponents. and new gun safety legislation. hitting the pause button on that, on the issue of guns, until immigration is done. for president obama there's a lot riding on whether congress can at least get one of those three items accomplished but no more make or break issue for the president's legacy than the successful implementation of health care. as democrats do their best to sell the imagery of chaos. in an event pegged to mother's day, president obama will tout the benefits of health care reform to women, their families and pocketbooks. surrounded by women. make no mistake about who the intended audience is. the white house calls mothers the validator for the young and uninsured. the name of the game for the white house through april 1st of next year if health care is going to be successful is to
, requiring the treasury to pay bondholder if the debt ceiling is reached. then the first congressional hearing looking into the bombings at the boston marathon. several live events to tell you about tomorrow morning. the center for strategic and budgetary seaments at 9:30 eastern on c-span2. arrives 3 prince harry at the arlington national spokesman tarry. here on c-span we'll be live ith the discussions on the guantanamo bay prison. that's at 10:00 a.m. eastern. 1:30, the institute for korean peninsula and national security and what happens on the orean peninsula. >> she's the first, first lady to earn a college degree. during the civil war soldiers serving under her husband called her the mother of the regime. she influenced her party to switch to the anti-slavery party. meet lucy hays wife of the 19th president as we continue our series on first ladies. monday night live at 9:00 eastern on c-span and c-span3. also, on c-span radio and c-span.org. now a hearing on the 2014 budget request for the air force. a house appropriation committee heard from chief of staff mark welsh for two h
to get done in washington. congress can't raise the debt ceiling. they can't pass a budget. and the house spent all last week debating whether they are dead locked or gridlocked until they finally reached a stalemate. ( cheers and applause ). now, some people out there blame this on rifts within the republican party. for instance, the g.o.p.-controlled house took two days to pass legislation that extended the government's helium reserves which democrats would have allowed them to pass by unanimous voice vote. but you can't pass a helium bill by voice vote. it would be embarrassing. (helium voice. ) the gentleman from mississippi votes wheeeeee! ( cheers and applause ). [bleep] mark sanford. now, folks, of course other people say it's obama's fault like "new york times" columnist maureen dowd who recently wrote the job of the former community organizer and self-styled uniter is to somehow get congress to do the stuff he wants them to do. it's called leadership. yes, the definition of leadership is getting people who despise you to work with you. it's also the definition of the eagles. so o
concern that sending the budget to conference could be used to pass tax increases or a debt ceiling increase through reconciliation, a back-door path that would circumvent the long-standing protections of the minority in the senate, and i observed that i would readily consent to the leader's request if he would simply agree that no such procedural tricks would be employed. it is perhaps rare for a so-called bully to offer to waive all objections if the other side will simply agree to abide by the rules, but i commend the majority leader for his response. he did not disagree that he hoped to use reconciliation to try to force through tax increases or a debt ceiling increase on a straight party-line vote. he did not pretend that his intentions were otherwise. when the economy is struggling so mightily, as it is now for the past four years our economy has grown at just 0.9% a year, it would be profoundly damaging to millions of americans to raise taxes yet again on top of the $1.7 trillion in new taxes that have already been enacted in the last four years, and with our national debt ap
on debt ceiling, let's pay china irst then u.s. troops. that headline in the huffington post is based on an interview with the speaker with bloomberg tv, peter cook. and i quote, mr. cook, doesn't it mean as democrats have suggested that you basically -- you're basically choosing to pay china before you pay u.s. troops? the speaker, in quotes, listen, those who have loaned us money like in any other proceeding, if you will, court proceeding, the bondholders usually get paid first. same thing here. same thing here. end quote. and then the speaker says, to conclude his comments, as to the administration, if it comes to the point where they don't have enough money to pay the bills, here is some order that we thinkle is sound. end of quotes. it's not sound. it's not as it is said workable. it endangers our economy. i quote former bush administration economist. it would be the first step, i quote, to becoming a banana republic, end of quote. in quotes, a bloody mess, end of quotes. as mentioned earlier by our distinguished ranking member on the rules, another bush administration official s
a third less than it was last year at this time. it also pushes back the deadline for raising the debt ceiling into october. president obama will be in texas today where he will talk about new ways to grow the economy through advances in technology. the president will visit with students at manor new technology high school, then later deliver a speech at applied materials in austin. austin managed to avoid a major hit during the recession. the president's trip today marks the first of a series of stops highlighting new economic models. an incubator for start-ups in chicago called 1871, for the year the city began rebuilding itself after the great fire, is celebrating a year of success. the digital co-op has provided space in chicago's merchandise mart for 225 start-ups - many of them no bigger than an idea and a laptop computer helping motorists, for example, find cheap parking via gps. so far, 800 people have been employed, and they've raised nearly $30 million in capital. "when a company comes out of here and stands at the stock exchange about to go public, we hope they remember whe
for congress to come to an agreement over the debt ceiling. connell: hey, rich. >> may 19 is when the debt ceiling hits. the treasury department can use what is known as extraordinary measures to send that off until the fall time. right now democrats and republicans staking out their positions. we spoke with john boehner, got a good deal of information about what republicans plan on doing with the debt ceiling negotiations. he says they may consider tax reform and entitlement reform. >> 10,000 baby boomers like me retiring every day. 70,000 this week. 3 1/2 million this year. it has to be part? >> it's got to be part of it. i don't know how else you can balance a budget if you don't deal with the entitlement problem and these programs are important to millions of americans, tens of millions of americans and they're not going to exist if we don't deal with them. >> republicans will be holding meetings in a few weeks to determine how they'll perceive with the debt ceiling negotiations. white house is saying they'll have none of it. this from a statement of policy yesterday saying the preside
up, roaring past washington. remember the fiscal cliff fight and the debt ceiling debacle? d.c. duals that dominated the headlines have been lest in the dust by the record-breaking ralliment could it continue? don't miss cramer's take. >>> later, money tree? the housing market's foundation is strengthening. that demand for lumber helped weyerhaeuser report the strongest quarter since 2005. is it time to build a position in this stock? cramer battles it out with ceos. in good hands, 10,000 people a day surgeon 65. so could retiring baby boomers be the key to returning your nestegg? it's cramer's call, all coming up on "mad money." >>> don't miss a sending of "mad money", follow @jimcramer on twkt. send jim and e-mail to madmoney@cnbc.com or give us a call 1-800-743-cnbc. miss something? head to madmoney.cnbc.com. ♪ [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. >>>
demands in terms of raising the debt ceiling. where at a similar point right now, it seems unclear what position is going to be in terms of congress this time around. can you explain the differences? >> we're in a different position than we were two years ago. we're spending more money than what we bring in. this year the federal government will bring in more revenue than our country. you can't continue to do this. so our conversations have begun, we're going to have a big conversation with our members next week to talk a a way forward. what do you members believe is necessary in order to allow them to vote yes on an increase in the debt limit. but dealing with a long-term structural spending problem we have is at the core of it. we also know we can't cut our way to prosperity. we need real economic growth. that's why you continue to hear a lot of discussion about tax reform, regulatory reform that would help us produce more economic growth here in our country. we do both, we can begin to solve the problem. >> on benghazi. you have five different committees investigating what happened.
the house to begin consideration of a debt ceiling bill that would have the government continue to make social security payments and interest payments to bondholders, even if the government has reached the debt ceiling. the white house yesterday issued a veto threat against the legislation. live coverage again of the house here on c-span. and the senate this week is considering legislation dealing with army corps of engineers' water projects. number of amendment votes expected today. follow the debate on c-span2. and over on c-span3, after that joint meeting of congress, hearing on the attack last year on the u.s. consulate in benghazi, lib why. tuesday, department officials previously posted there in libya as well as the department's acting head of counterterrorism are set to testify. that's set for 11:30 eastern on c-span3. as we mentioned south korea's president addressing a joint meeting of congress coming up this morning. 10:30 eastern. yesterday she held a joint news conference with president obama. we'll show you as much of that as we can until the joint meeting gets under way. p
, congress should not rest on its laurels and should end up raising the debt ceiling in the coming months. >> congress should deal with this right away and the fact they have more time should not put off with dealing with this. it is not good. i don't think it's in the interest of the u.s. orred world economy for congress to weigh into the last minute and create a sense of anxiety. >> hey, so one other thing he said is he's urging europe in the g-7 to deal with a better balance with growth and austerity and finally on the yen, he seemed to give a green light for them pursuing their approximately sos and japanese policies that have led to this decline in the end. carl, back to you. >> he did say, steve, he did tell you we will keep an eye on them and policy needs to stay within the bounds of international agreements. how uncomfortable is this meeting going to be said. are you taking actions to spur growth or devalue the currency? at least at this point he is not saying they are taking those actions. i do think there is a limit, carl as to how much the united states will tolerate before it
that would increase the debt ceiling without sufficient input from the minority party, and without addressing the fundamental structural spending problems we have at the federal government that are -- that are leading to our unsustainable debt. this concern, i believe, is well-founded in history in that reconciliation bills have been used to increase the debt ceiling at least three times, in 1986 and 1990 and in 1993. and so for that reason, reserving the right to object, i would ask consent that the leader modify his request so that it not be in order for the senate to consider a conference report that includes tax increases or reconciliation instructions to increase taxes or to raise the debt limit. mr. reid: mr. president? the presiding officer: is there objection to the modified request? mr. reid: i would make a comment before making a decision on that. the presiding officer: the majority leader. mr. reid: the senate considered the budget, and that's an understatement. we voted on more than 100 amendments, as i mentioned just a few minutes ago. it was hard. the votes were hard. the senate
to pay bond holders if the debt ceiling is reached. for more about the bill, we spoke with a capitol hill reporter. >> tax reporter for politico joining us from capitol hill. what's the purpose of this bill? >> gives the government to pay its bond holders in the case of the government or congress didn't increase the debt limit in time so you would avoid a default. >> what authority does the treasury department get under this bill? >> it would allow them to pay bond holders, which is where the democrats are coming in and saying those chinese bond holders own our debt. but given the treasury ability to keep paying bond payments and stop a default on our debt, which is where you get into issues if you default versus paying out bond holders to avoid that. >> you mentioned the democrats called for paying off our debt and the chinese and they have been calling it the pay china first bill. what is the reasoning for doing that? >> a lot of our debt is held by the chinese and paying off our bond holders they are going to prioritize payments to those versus -- for salaries -- for the military and o
to take a crisis again? is of the debt ceiling coming up actually something that everyone in this process needs in a weird way because it forces action crisis and like the only time any deal has happened is when there's been the proverbial gun to the head of washington. >> if there's nothing else i would say it's important, let me say this, our country is tired of congress managing by crisis. it has brought us to the point where we're at today in bad policies, bad implementations, sequestration being the most visible right now. and i believe that we ar the jos congress, and i think we should get to work putting together a budget. that's like going to conference is so important to me and to my caucus. antonin republicans that i talked he was well. because managing by crisis puts our country in a very bad place when our economy is fragile. compromise is not a bad word. it is part of what we have to do. i'm from a big family. we have seven kids growing up. you don't get what you want for dinner every night, but you realize that sometimes you have to make changes. >> you've actually been, arg
entitlements. of course that debt ceiling fight, the biggest one of the year. the house plans on passing a bill that would soon allow the treasury department to prioritize debt payments white house minutes before interview the president would veto saying it is up to congress to pass a clean increase in the debt ceiling. we asked the speaker about that white house veto threat. >> you know the president can say this but y know, he is the person who, when he was united stat
? >> we talked taxes. we discussed entitlements. of course that debt ceiling fight, the biggest one of the year. the house plans on passing a bill that would soon allow the treasury department to prioritize debt payments white house minutes before interview the president would veto saying it is up to congress to pass a clean increase in the debt ceiling. we asked the speaker about that white house veto threat. >> you know the president can say this but you know, he is the person who, when
's because we are get to go the end of the debt ceiling agreement? >> the end of the debt ceiling because there's too much debt. >> the democratic don't like this prioritization idea. >> why would you not like to prioritize? >> i'm just telling you, this is one. your areas -- >> are they owe posing something just to oppose something? by doing a debt prioritization what you are saying is you are making sure america never has the problem that they get downgraded within their credit of looking bad. we aren't prioritizing when we borrow from somebody, we will take our debt." we are prioritizing going forward. >> if it's such a good idea why don't you all agree on it? >> isn't it a good idea to have a balanced budget, too, but only one side grease with that, the republicans. at the end of the day if you have $100 of bills and you only have $80, the current system says you can't pay any. that's idiotic. why don't pay $80 worth? >> one more question. will there be a tax on online sales? it passed in the senate but do you expect there to be a tax on online sales? >> i think you have to see it go
ringing ] now a waiting room is just a room. [ static warbles ] >>> it's back! the debt ceiling debate. was it ever really gone? the latest artificial deadline for raising the federal credit him is a week and a half away with you those so-called extraordinary measures the treasury department can take will likely last us through the summer months. house republicans plan a vote on their full faith and credit act which allows for some spending outside the debt limit but only to pay principal and interest on the debt. don't expect the bill to gain any traction in the senate. democrats argue it doesn't protect payments to soldiers, hospitals, doctors and businesses. our next guest argues the solution to all of this is not going to come from either party and maybe that's a good thing. kevin williamson is writer for the national review. he is the author of the new book, the end is near and it is going to be awesome. kevin, welcome. you say in this book, government is falling apart and not a moment too soon. the failures of the health care state, retirement pensions, all the government's fault
, a debt ceiling crisis. i love what japan is doing. it's totally pro-growth. and i think there's just as good a chance that the fed will step up their purchases of bonds ass there that they'll slow it down. in other words, i don't see any shift in fed policy. add it up, you've got pullbacks, i understand that, but i think this is a cyclical, multi-year continuation of the bull market. >> jeff, what do you think? you say the rally is short lived. >> well, i don't know how short lived it is, maria, but i would say this. larry just talked about pullbacks. and we haven't had a meaningful pullback in this market in so long. it's hard to even remember when. all of the dips are being bought. this is a teflon market. it's not reacting to bad news, it's not reacting to fundamentals. i tell you, i'm out here at salt, i'm talking to guys. they love ben bernanke, because they see this being controlled almost exclusively by federal reserve policy. history tells us that at some point, the party is going to be over. when does that party come? it's a gamble right now. i just think that when you look
with the debt ceiling limit and looks like that's where we are again. >> ben for all of the talk we've heard from regular order and this idea of pass the budget and we'll come together, the gop does not want to have the conversations, they say the democrats are not serious about tax reform. it's fascinating that the play here is just push back, push back, push back, until the point of where we will have, be on the bitter end of crisis. it's fascinating to be the stewardship party, and want to play this game. >> it could be because there's nothing approaching the outlines of compromise. you saw boehner saying he wants to cut taxes, cut regulation and this is not where obama wants to go. i think yes, we're sort of headed for the next train wreck because there's nothing approaching a sense of compromise. i think the white house and democrats see the whole argument in their view for austerity is falling apart. they're getting more aggressive saying saying out loud what they've said in private don't worry about the white house. >> sam, how does the white house play this. it showed the revenue inc
and the environment. on the economy, conservatives are chomping at the bit to use the upcoming debt ceiling debate as a weapon to force new spending cuts and tax reform. the problem is, middle class americans may not see how the republican agenda helps them. in february, majority leader eric cantor suggested they have to explain why their plan is everyone, not just protecting the rich. >> for the next two years our house majority will pursue an agenda that is based on a shared vision of creating the conditions of health, prosperity for more americans and their families. >> haven't reflected the efforts to sell their policies as a benefit for the middle class, but others claim it could be done. this is how president reagan introduced his tax legislation before he signed it in 1986. >> the bill i'm signing today is not only a historic overhaul of his tax code and sweeping victory for fairness, but also the best antipoverty bill, the best pro-family measure and the best job creation program ever to come out of the congress of the united states. >> another issue fueling party divisions is climate chan
a crisis again? is the debt ceiling coming up is everything in this process it sort of forces action. the only time anything happens is when there is a proverbial >> if there iston. nothing else i say today that is important, let me say this. our country is tired of congress managing by crisis. it has brought us to the point where we're at today with bad policies, sequestration being the most visible right now. i believe we have a job as congress and we should get to work putting together a budget. that's why going to conference is so important to me and my caucus. to many republicans i talk to as well. managing by crisis puts us in a bad place when the economy is a bade.compromise is not word. you don't get what you want for dinner every night. you have to make changes. >> you've been arguably -- you've already been a conference committee, you brought it up. >> sure. >> there were key republican -- this was six and six, if i'm not mistaken.three from every caucus. six democrats, you were the chair there. what went wrong? if you could not solve it then when the sequestration gun was
of overtime to hourly workers and a bill to prioritize debt payments in an event that the debt ceiling is reached. live coverage of the house on c-span, the senate here on c-span2. >> host: president obama has nominated tom wheeler to be the next chair of the federal communications commission. that's our topic this week on "the communicators." tom wheeler is currently managing director of core capital partners which is his venture capital firm. he has served on the obama-biden transition team, and he's been the ceo of two industry groups based here in washington; the cable association and the wireless association as well. joining us to discuss this, justin lilley, telemedia policy corporation, and he is a former republican counsel to the house energy and commerce committee, and blair levin with the aspen institute who also as served several stints at the fcc. blair levin, if we could start with you. do you know tom wheeler, and what should people who follow these issues know about tom wheeler? >> guest: i do know tom wheeler. pretty much everyone who's been in this business knows tom w
. we will hit the technical debt ceiling in a matter of days. but he went on to say there's actually time here for -- until we actually get the effective limit. >> we're not going to hit the effective deadline until at least labor day. the statutory debt limit will be reached in just a few days when it expires may 18th. but pause of the extraordinary measures that are available and the cash flow that we now can predict, it will be not until at least after labor day. >>> now, he did urge congress not to wait until labor day to raise the the debt ceiling on other issues. he said on he would not comment on the dow hitting 15,000. but when he mentioned the risks monitored by the oversight committee did not mention stocks as among those risks being watched. on health care he rejected criticism that we have been talking about on "squawk box" that the health care act is hurting job growth. he advised the economic counselors to look at it. he said sit not as strong in the areas where there is expensive insurance. finally, on housing, lew said it's a matter of balancing access to credit with
. however, we do have this debt ceiling issue coming up. september 20th is the deadline. the house of representatives voted today on which creditors they would and would not pay if they hit the limit, so i don't think there's any chance of a halfway civilized agreement being reached by the deadline. - ok. the politics of this are nonsensical in the first place, but i want to put a spin on this: we've got to remember there's a lot more upside left in the stock market, because the vix as it stands right now is low, but it's still 25% above where it was in 2007. so, the vix can go a lot lower, meaning the volatility can get a lot less, and the stocks can get a lot higher. - topic #2: billionaire george soros is said to have made $60 million off the aussie dollar. what currency would you buy? - i am not looking to buy any currency right now. i think the best trade out there is the aussie dollar short. i think the aussie is the new yen. we saw the yen get hammered today. i think that trade is getting crowded. the economy in australia is faltering. 10% of their gdp is tied to mining. the
says the nation won't hit the debt ceiling limit until labor day. mark sebastian of option pit mentoring joins us now. mark, what do you think will be most critical to traders this week? - i think we are going to have to be watching currency. the yen is plummeting, and if that thing gets a lot weaker, it's going to start to have a material effect on u.s. assets pretty quickly. - members of the g-7 talked about the yen at a meeting over the weekend. what would be your trader play today? - you know, i think you really have to watch how the relationship of treasuries and the stock market works. the stock markets continue rallying because there are traders chasing that yield. as treasuries start to weaken, that play between s&p 500 yield and treasury yield is going to start to make a lot less sense, and you may see the traders and banks start to invest in treasuries and notes rather than the s&p 500. - once again on friday, tesla was in overdrive. mark, it has been a long time since we've seen a move like this. do you buy or stay away? - this is an absolute stay away. if you look a
simply the debt ceiling, we just passed a bill on the prioritization. we anonymously oppose that on our side. we think it's not a good policy. obviously there's a disagreement on that. can the gentleman tell me, may 19th is the day the debt ceiling extension expires. can the gentleman tell me whether there's any proposal to act in the near future other than debt prioritization which will have no chance in the senate, and opposed by many republican economists as the gentleman knows, and by the bush former economic adviser to the bush administration said it wouldn't work, shouldn't work. can the gentleman tell me are whether there's any alternative plan before we leave here for memorial daybreak to give confidence to the economy and creditors and the american people that we will deal responsibly with a debt limit extension? i yield to my friend. >> thank you for yielding. i was disappointed in today's action. since that i think is dangerous to flirt with default. america ought to pay its debt. we ensure investors here at home, our local retirement funds, who have bought u.s. treasury in t
. will be stepping down. >> so what happens to the budget? you've got continuing problems on that. the debt ceiling come up sometime we're now hearing it might be later in the summer and the fall. >> there's good news here and also bad news. we're taking the european approach. just enough to keep the wolf from the door but not enough to solve the problem permanently. the deficit is about 4.5%. next year it's expected to be 3.7. and '15, 3.0. it is gradually coming down nap means the markets aren't likely to pressure congress and the president to do things they don't want to do -- raise taxes or reform entitlements. the exception, i think, let's look at the midterm election. there will be a window of opportunity there needily following the midterm elections if the president is the ready to step forward and do more on entitlements. i think it's unlikely, but the rest of this two-year period, very unlikely. >> we have to take a break here. when we come back, the battle over how young is too young to get the >> i'm comfortable with the scientific evidence for girls 15 and over. >> need adult supervisio
to prioritize debt payments in case the debt ceiling is reached. live coverage of the house on c- span. the senate on c-span2 at 2:00 p.m. eastern. >> next, q&a with david stockman, followed by your , and comments on "washington journal. and the u.s. house of representatives returns from recess. >> this week on "q&a," former congressman and reagan's administration budget director david stockman discusses his latest book, entitled "the great deformation: the corruption of capitalism in america." >> david stockman, the author of the book "the great deformation. 1981, when you were budget director for ronald reagan? >> the last thing was that the machine of the government in united states is pretty brittle, and if mistakes are made, and, clearly, we made a huge mistake when the taxes were double thee
to raise the debt ceiling this time around. he is also calling for tax reform and less spending. in a conversation today with rich edson of the fox business network. >> we have two problems. we have a spending problem and secondly, we have this slow economic growth. it's pathetic. the president will go out on the jobs tour and talk about how the economy is growing. barely. so if we're serious about solving our spending problem, we need to look at the revenue side. the revenue side means getting our economy going again, helping people get better wages and better opportunities for better jobs. >> polls close at the top of the hour in south korcarolina's fir congressional district for one of the most unusual special elections in recent memory. involves a disgrace d politicia on the come back trail and sister of a political sat t tierist. trying to make a come back. >> just after casting his ballot, former governor mark sanford said you only get one second chance in politics and this is his. the republican who represented south carolina's gop leaning congressional direct has tighten
a problem on things like the debt ceiling and various other fights and immigration. you talk about an elite consensus that ignores mass opinion, this is cutting in our favor. elites are much more in favor of immigration than the base of the republican favor. >> thank you very much. >> thank you. >>> rising emission and carb upon levels and one congressman just can't take it. >>> today, senate republicans blocked president obama's nominee to head the epa, jenna mccarthy. that was not constructionist. they get a committee vote to deny a quorum and barbara boxer complained republicans should get out of the fringe lane. the republicans wouldn't let the nominee out of committee. here's the other reason blocking this nomination is so compare. she is currently the assistant administrator for the office of air and radiation at the epa, head of the epa's air regulation and as head would have the authority to regulate the biggest pollution we face, which is carbon. that's an idea republicans and their fossil fuel backers really really hate. that's why the committee's ranking republican, senator vitte
than expected. changing the budget debate in congress too. and means a delay in hitting the debt ceiling. >>> financial journalism lost one of its leading lights. a baron's writer editor and chief, the past 57 years. he was 87. >>> and senator john mccain wants to overhaul cable, satellite and other pay tv and plans to introduce a bill requiring >>> we are starting out this friday with plenty of low clouds and fog even some drizzle toward the coastline. but by the afternoon, we are expecting more sunshine. overlooking san jose, a little broken there. it should clear out very nicely as we head toward the middle of the day. the temperatures now mainly in the 50s. by the afternoon, we're back up into the 70s. even some low 80s well inland. 50s and 60s foggy toward the coast. the weekend looks very nice. more sunshine on the way, a beautiful mother's day for the bay area. >> announcer: this national weather report sponsored by kay jewelers. every kiss begins with kay. >>> the billionaire koch brothers may buy some of the biggest newspaper. why they
, the health care law, the debt ceiling, cap and trade, the overspending, the stimulus. our issues are focused on the legislation before congress, and that's what a 501c-4 is for. >> when you had conversations with these irs agents, these irss officials, did you ever discern any anti-tea party or anti-conservative bias, or was it just bureaucratic demands that were just never hending? >> you could tell from the questions they were asking and the fact that so many patriot groups and 912 groups and tea party groups around the country were getting them that this was something very unusual happening systemwide to people who were applying for the status. so i could tell that that was happening, and it's obvious that they were trying to make the process as difficult as possible. and they -- they're still to this day stringing tea party patriots along. >> jenny beth martin with tea party patriots, thanks for yb time. >> thank you. >>> the president says the e-mails are a sideshow. the talking points issue. but that's not how some of the families who lost loved ones in benghazi feel about it. we'll ta
, keep the government going? how do we deal with the debt ceiling pay our debt when they come due and deal with fiscal responsibility and transparency. lori: thank you, joe. david: he says i'm joe from the bronx. >> got it. david: thank you, joe, very much. lori: conversation with warren buffett is just ahead. mr. you have but fet discussing succession plans. the market and whether low interest rates are here to stay. david: the senate is set to vote on a bill that would effectively end tax-free on-line shopping but with over 9,000 separate tax codes, is the bill fair or will it put a burden on online businesss? an executive and former president of overstock.com, one of the largest online retailers joins us. wait until you hear where he stands on this new internet tax. you won't believe it. ♪ . at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. very logical thinker. (laughs) i'm
bills? americans are tired of the knock-down, drag-out debt ceiling battles that cost our economy billions of dollars last year. middle-class families have been through enough economic turmoil. it is unbelievable that republicans would once again hold the full faith and credit of our government hostage. so i hope my republican colleagues will come to their senses. the way to put our nation on sound fiscal footing is to set aside this obstruction and set sensible poll -- policy through regular order in the senate process, not through dangerous hostage taking. passing a budget in each chamber was a good step toward restoring regular order. the next move is to go to conference, set our minds on reaching a reasonable compromise that reverses painful cuts and sequestration. right now republicans are the only thing standing between congress and compromise. i'm optimistic they will not continue to put american families through more financial pain. i hope i'm right. i would yield to a unanimous consent request to my friend from washington. mrs. murray: madam president? the presiding offic
to start dominating town, the focus we get into the midsummer, the debt ceiling will have to be increased again. >> some point the next six weeks to two months? >> that's right. going to be such a painful discussion with house republicans, 2011. >> all right. when we come back, we are going to talk -- have a little fun a race that has no impact on the political -- national political case other than it's a great yarn, south carolina. trivia time, we asked the largest number of presidents at has been six. when was the first time that occurred, 1861. that's the first of three times in our country's history that there were six living presidents. congratulations to today's winner. if you have a political trivia question e-mail us. we'll be right back. oh, he's a fighter alright. since aflac is helping with his expenses while he can't work, he can focus on his recovery. he doesn't have to worry so much about his mortgage, groceries, or even gas bills. kick! kick... feel it! feel it! feel it! nice work! ♪ you got it! you got it! yes! aflac's gonna help take care of his expenses. and us...we're
the debt ceiling, what's going to be coming up in september, i think. >> which, by the way, because the economy is recovering. >> yeah. >> interesting little -- deficit going down. >> all this fiscal wrangling that's still going on. >> they want a discussion about jobs more than anything else. republicans i talk to say the same thing. we need to talk about jobs and growth. >> what about immigration reform? there are a lot of issues at play and of course with vice president biden saying background checks are coming back. >> but he said the obvious there, too, we have to wait for immigration reform. >> sure. >> shameless plugs, ang lee. >> my good friend james hairson the first ever black party chair. >> jamie. >> shoutout to my husband. takes his last exam for grad school. gets his masters this coming week from george washington. >> good deal. >> a shoutout to south carolina and my brother, a resident of south carolina, got engaged last night, getting married in the city of charleston. he's going to vote. my mom is also in that district. >> you have it. >> i have the inside info. >>
creation today, as the house of representatives lays down a line in the sand about the debt ceiling. john harwood's covering it all for us and has the details in front of the white house. john? >> tyler, starkly different economic messages from the white house and from house republicans today. president obama went to austin, texas, to push the message that was contained in his budget, which is that the key for the growth of the middle class, growth of the economy, is economic growth, as indicated by two executive orders, one of which would expand government data sharing for businesses and also would foster the creation of manufacturing centers. he says that government action is necessary to encourage the growth of the middle class. >> part of our challenge, you've got to try to see the same kind of seriousness of purpose in your leaders, from washington to wall street. all of us have to commit ourselves to doing better than we're doing now. and all of us have to rally around the single greatest challenge that we face as a country right now, and that's reigniting the true engine of economi
in the summer when we're trying to talk about the budget or facing the debt ceiling crisis, what's going to be the excuse? we don't have enough time. and this is the precious time that they are now spending that they should be spending not on benghazi but actually on let's get some kind of deal, let's figure out some way to reverse these cuts. >> john, when secretary of state hillary clinton was testifying about benghazi a few months ago, she said that nothing, nothing that she could say or do would ever bring back the lives of those who were killed on that terrible day. but how critical is it for these young children to have a resource like head start? i mean, are we just making this up? are these people just making up and exaggerating their reliance on this program? or is it critical to them? >> let's just broaden the conversation out from head start little bit, because these cuts go all the way across everything -- >> sure. >> -- that the federal government does. so people can have a particular problem maybe with head start. maybe it doesn't have the results they want. anybody can fin
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